$SPX - Market Analysis for Jun 25th, 2018

Probabilities of the blue count as a i-ii (i)-(ii) start to a standard impulse are declining quickly, with one last opportunity for a stick-save here at 2700 as the .786 retrace. Otherwise, below there and I begin to view the red count as more likely, with an abc off the May low as wave i of what will be an ending diagonal 5th wave, and price now in wave ii of the ED. That would place the next support below at 2691.50 - 2668 SPX as the .500 - .618 retrace.

$SPX - Micro - Jun-25 0914 AM (1 hour)
$SPX - Micro - Jun-25 0914 AM (1 hour)
Garrett Patten is a senior analyst at ElliottWaveTrader covering both U.S. and international equity indices as well as stocks.